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Rigetti shares slide after Q2 revenue tops estimates but losses widen

Rigetti shares slide after Q2 revenue tops estimates but losses widen

Second-quarter sales nearly tripled to $5.14 million on Novera system demand, but a deeper operating loss, an earnings miss and uncertainty around CHIPS Act funding pressured the stock.

Fact Check
Rocket's official Q2 2026 IR release confirms adjusted revenue of $2.76 billion and adjusted diluted EPS of $0.16, plus a Q3 adjusted revenue outlook of $2.5B-$2.7B. Benzinga's earnings coverage confirms these missed consensus estimates (revenue $2.82B, EPS $0.17, Q3 $2.84B). Benzinga's Friday movers article confirms RKT rose ~6.2% premarket as investors weighed record purchase and refinance market-share gains. Every element of the claim is corroborated.
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Summary

Rigetti Computing shares fell in after-hours trading after second-quarter results showed revenue narrowly ahead of expectations but losses that widened sharply. Revenue for the period ended June 30 rose to $5.14 million from $1.8 million a year earlier, topping the $5.09 million analyst consensus as sales of on-premise quantum systems increased, while operating loss widened to $28.1 million from $20.4 million. On a GAAP basis, net loss reached $52.6 million, or $0.16 per diluted share, and the adjusted loss of $0.05 a share missed expectations for a $0.03 loss. The stock dropped 4.4% to $15.79 after hours after closing down 1.49% at $16.53, even as the company highlighted Novera system deliveries, qubit fidelity gains and a cash position of $541.3 million with no debt. Investors are also watching a proposed U.S. Commerce Department arrangement that could bring up to $100 million in CHIPS Act funding for superconducting quantum computing research, though Rigetti said the agreement has not been finalized.

Terms & Concepts
  • Novera: Rigetti's quantum computing processor and system platform used in its on-premise hardware deployments.
  • qubit fidelity: A measure of how accurately operations are performed on quantum bits, with higher percentages indicating fewer errors.
  • CHIPS Act: A U.S. law that provides incentives and funding for domestic semiconductor and related technology manufacturing and research.